🔥FlOKI ANALYSIS : Buy, Hold

The Elon Musk’s dog-inspired memecoin Floki at the time of writing is trading at $0.0001914 moving 25% in 1 day and 30% in 7 Days, with the intraday volume up 168%. 

While we watch the Onchain activity of Floki in the last 7 Days, the number of Daily active addresses and new addresses created is decreased. 

So the Floki price growth is likely to be driven by market sentiment and not by its actual demands, This metric indicates a slowdown can be seen in the price rally, but not a major correction.  

Also the Market Value to Realized Value (MVRV) ratio of Floiki is in the negative count for short and long period, This means the coins is still undervalued and accommodate buying pressure. 

The FLOKI/USDT chart reveals a slowdown or sideway trading possibility. The price is above all SMA’s and EMA’s showing strong support, the MACD line is above the signal line making room for positive momentum. 

Floki’s declining Chaikin Money Flow (CMF) direction in the downward is the opposite direction of the price moving up. This indicator shows how money flows in and out of an asset. 

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